The Iowa City Area Development Group said Wednesday that the Bandwidth Pool was awarded aid from the Iowa Demonstration Fund last week.

The Bandwidth Pool allows businesses who are looking for internet providers to receive competitive bids and reviews to help them decide. The company says those that spend $500 per month stand to benefit the most, and early users have reported saving up to 20 percent.

In a press release, founder Ben Anderson said the money will support the next phase of business development, which could put the company in line to hire sales and marketing employees in the next 18 months.